History
The Sustainability Group of Stakeholders was established in the early summer of 2004.
ALCOA AIMS:
LANDSVIRKJUN AIMS:
COMMITMENT TO SUSTAINABILITY
Both companies are committed to sustainability practices in the construction and operation of Fjarðaál and Kárahnjúkar. They needed a method to demonstrate that long-term commitment. In order to fulfill their aims, the companies combined their efforts to establish a Sustainability Project.
SUSTAINABILITY PROJECT
- The objective is to establish a framework to assess the performance of Fjarðaál and Kárahnjúkar against sustainability principles. A three phase project was determined:
- Development of sustainability objectives, indicators and measures - input of Stakeholder Advisory Group.
Development of targets. - On-going measurement and reporting of progress.
INDICATORS, EXAMPLES:
Environment
- Indicator: No. of species
- Metric: Changes in population
Social
- Indicator: No. of apprentice/trainees
- Metric: Turnover in apprentices/trainees
Economic
- Indicator: Regional wealth
- Metric: Change in income levels
THE ALCOA/LANDSVIRKJUN SUSTAINABILITY GROUP
A number of stakeholders were invited to appoint a representative to attend three meetings during the life of project (see LIST OF THE GROUP).
BENEFITS OF PARTICIPATION
Stakeholder participants will benefit for the following reasons:
- Input into the framework
- First hand information on the projects, its impacts and consequences
- Opportunity to be informed on projects
- Opportunity to raise concerns and potentially to have indicators included in the framework on those concerns
- Unique Initiative for Iceland with global impact
- Builds on the Icelandic Sustainability Strategy
HIRING OF CONSULTANTS
Both local and international consultants were needed to assist Landsvrikjun and Alcoa in the Sustainability Assessment initiative.
The consultants would have:
- Experience in developing global indicators
- Experience in Iceland and sustainability
- Facilitation
After careful consideration, the internationally renowned company ERM was hired, as well as the Icelanding consultant company ALTA and independent consultant Auður H. Ingólfsdóttir.
TIMETABLE
The following timetable was set:
- Letter of invitation to Advisory Group
- Individual meetings with consultant
- June - 1st Advisory Group meeting
- August - 2nd Advisory Group meeting
- October - 3rd and final Advisory Group meeting
- Final report - mid October
